UTV reports strong growth in new media

Media company UTV reported an 11 per cent rise in interim profits to £9

Media company UTV reported an 11 per cent rise in interim profits to £9.6 million as strong performances in new media and radio offset weakness in televsion advertising.

The group, which added the UK Talksport radio franchise and Limerick's LMFM radio to its portfolio of radio stations this year, said turnover rose 17 per cent to £35.8 million.

UTV chairman John McGuckian said the outlook is promising in radio and that tight cost control in television will overcome a soft advertising market.

Its new media division had a strong first half, with turnover up by 56 per cent representing significant growth in its customer base in internet and telephony services.

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The board has declared an interim dividend of 4.75p, which represents a 5.6 per cent increase over last year.